Economists at the World Trade Organisation say that World trade is projected to see a modest growth of 4.7% in 2014 and to grow at a slightly faster pace of 5.3% next year.

In its latest report on trade figures for 2013 and prospects for 2014 and 2015 released recently, WTO sources said that although the forecast of 4.7% growth in 2014 is more than double the 2.1% increase of last year, it remains below the 20-year average of 5.3%.

WTO economists said that the trade forecast for 2014 is premised on an assumption of 3% growth in world GDP at market exchange rates, while the forecast for 2015, assumes output growth of 3.1%.